Man invented money and the capitalist system. It's only really Monopoly.
International trade is so massive and complex that every country owes at least one other country money. So why not just call a capital moratorium, where all countries start from scratch?
Recession over ! Without this sort of adjustment the capital system will always get in a twist from time to time. We have allowed money to manage the world, rather than the world managing money.
Helen, not sure how you draw your conclusions from what I wrote? Your reply has scant detail.
El Capitan- I am only proposing writing of inter-country debt. So only the faceless beaurocrats of the World Bank and the IMF would hang themselves. Japan would be pretty happy with the suggestion. Why should we all be miserable trying to pay each other. It's like me owing a member of my family money and him owing me.
Thisison - everybody gets paid, no programs stop if you are no longer paying off a national debt for the next twenty years. The funds to be expended on the deficit are diverted to National (internal) Programmes. It does take some vision and a leap of faith because of greed. I would like to do the sums of losers and winners, I rather suspect that ALL nations are in debt to some extent.
International trade is so massive and complex that every country owes at least one other country money. So why not just call a capital moratorium, where all countries start from scratch?
Recession over ! Without this sort of adjustment the capital system will always get in a twist from time to time. We have allowed money to manage the world, rather than the world managing money.
Helen, not sure how you draw your conclusions from what I wrote? Your reply has scant detail.
El Capitan- I am only proposing writing of inter-country debt. So only the faceless beaurocrats of the World Bank and the IMF would hang themselves. Japan would be pretty happy with the suggestion. Why should we all be miserable trying to pay each other. It's like me owing a member of my family money and him owing me.
Thisison - everybody gets paid, no programs stop if you are no longer paying off a national debt for the next twenty years. The funds to be expended on the deficit are diverted to National (internal) Programmes. It does take some vision and a leap of faith because of greed. I would like to do the sums of losers and winners, I rather suspect that ALL nations are in debt to some extent.